EUR/USD – 23.6% Fibo could be put to test

Pair’s recovery from the low of 1.0518 followed by a move above 5-DMA amid oversold daily RSI and MACD showing loss of bearish momentum suggests a short-term bottom is in place and potential for extension of the corrective move to 1.07025 (23.6% of 1.13-1.0518).

On the lower side, only a daily close below 1.0463 (2015 low) would revive bearishness.